Re: [CANSLIM] Definition of base and pivot point

From: Earl Setser <esetser@csolutions.net>
Subject: Re: [CANSLIM] Definition of base and pivot point
Date: Wed, 03 May 2000 18:42:10 -0600

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I think it makes sense to look a QCOM from the longer term perspective.
>From my perspective, it reached a high on 1/3/00 and has been in a
downtrend ever since.  I actually bought it during the late March activity
that looked to be a breakout from its base, but it has clearly failed this
breakout, and I got chased out of it soon after my purchase.  I don't think
the action of the last week or so has been significant enough to signal the
start of the right side of the cup, when viewed from a 4 month perspective.
 And remember, you want any handle to form above the mid-point of the cup.
I make the midpoint of the cup at 138.3, so QCOM has a long way to go
before reaching that level.  I suggest patience on this one.


At 05:19 PM 5/3/00 -0400, you wrote:
>Hello folks
>
>I was looking at QCOM and trying to decide where a (future) pivot point
>might be, assuming it's forming the right side of a cup.  Will the pivot
>point be at the level of the January blowout peak or the late March
>peak? Or would you wait and see if it meets resistance at the late March
>peak or goes on through it?
>
>Still trying to learn.
>
>Carter
>
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